Refer to the figure above. What is the equilibrium wage rate if the labor demand curve is LD2 and labor supply curve is LS2?

Bonnie is debating whether to take a job as a professional therapist or a florist. She will earn $40,000 a year as a therapist or $30,000 a year as a florist. If she chooses to be a therapist, the opportunity cost is

A) $40,000. B) $30,000. C) $10,000. D) unable to determine.

Oligopolistic firms

A. are few in number. B. are interdependent. C. charge a higher price and produce a smaller output than perfect competitors. D. all of the choices are true of oligopolistic firms.